TAIPEI (Taiwan News) – Taiwan had 44,161 new cars registered in March, an 18-year high indicating a strong recovery after COVID-19, reports said Thursday (April 6).
The figure marked an increase of 34.6% from March 2022 and of 12% from February 2023, per CNA. The car sector was expecting 38,000 new registrations in April, 8% more than the same month last year.
The share of imported cars rose by 30% from March 2022 to reach 46.6% in March 2023, making a significant contribution to the overall advance. During the first quarter of 2023, 111,768 new cars were registered, an increase of 7.1% from the same period last year.
As previously, Toyota and its luxury brand Lexus accounted for the largest market share, registering 13,808 new cars in March, or 31.3% of the market. Toyota on its own held a market share of 23.9%, with Lexus seeing its sales surge by 50% from March 2022. The Toyota Corolla Cross SUV remained Taiwan’s bestselling car, with 3,339 cars registered.
Car companies saw a spectacular rise in sales, with South Korea’s Hyundai sales increasing by 133.5% from March 2022 and electric vehicle brand Tesla surging by 382.6% from February 2023 to become the fourth most popular brand behind Toyota, Lexus, and Honda.